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Hyderabad, June 15 SoftPro Systems Ltd, a technology solutions company, has announced acquisition of the South Africa-based Cura Risk Management Software for $19 million in an all-cash deal.

Cura Risk offers software solutions in Governance Risk and Compliance (GRC) areas.

Addressing a press conference here on Monday, Mr G. Bala Reddy, Chairman and Managing Director of SoftPro, said Forrester Research had put the GRC market at $24 billion by 2014 from the present $2.6 billion.

“The acquisition will help us combine the delivery capabilities of SoftPro to leverage the strengths of Cura to offer a complete suite of solutions in the GRC segment,” he said.

SoftPro registered a turnover of Rs 6.30 crore in 2008-09, while Cura clocked a business of $7-8 million 2008-09. The company’s AGM had recently given the nod to raise Rs 53 crore through preferential offer. Twenty per cent of this would be used for the deal.

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